One person is in custody following a stabbing at a home in Mississauga early Sunday morning, Peel Regional Police say.

The incident occurred inside a residence near Forestwalk Circle and Bristol Road East at around 12:40 a.m.

One victim was transported to a trauma centre in life-threatening condition but their condition has since been upgraded to stable, police say.

Another male was also taken to hospital for treatment, according to Peel paramedics.

Police say one suspect has been arrested in connection with the stabbing.